#EURJPY @ 147.770 is set to finish the week with minimal gains of 0.18%. (Pivot Orderbook analysis)
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- EUR/JPY is set to finish the week with minimal gains of 0.18%.
- EUR/JPY Price Analysis: Trades sideways, with buyers unable to crack 148.00, which, once broken, could pave the way for further upside.
The pair currently trades last at 147.770.
The previous day high was 147.92 while the previous day low was 146.46. The daily 38.2% Fib levels comes at 147.36, expected to provide support. Similarly, the daily 61.8% fib level is at 147.01, expected to provide support.
The EUR/JPY prints back-to-back positive sessions but stays at around 147.62, almost unchanged, as Thursday’s price action formed a doji. Once the EUR/JPY reached a multi-year high at around 148.63, it was followed by a mean reversion move, ahead of the BoJ’s monetary policy decision, later in the day. At the time of writing, the EUR/JPY is trading at 147.64, gains 0.03%, as the Asian session starts.
From a daily chart perspective, price action looks headed upward. However, sellers stepped in as the RSI indicator exited from overbought conditions, dragging the EUR/JPY’s price toward its weekly low of 146.28. Since then, the EUR/JPY reclaimed 147.00, though the pair is trading sideways within the 147.10-90s area.
Near-term, the EUR/JPY 4-hour chart suggests the pair is consolidating at around the 50 and 20-EMAs. After dropping to its weekly low, the EUR/JPY recovered some ground and aimed toward 147.49, clearing the 50 and 20-EMA. Since then, the EUR/JPY has faced solid resistance at around 147.90-147.99, unable to reclaim 148.00. If EUR/JPY cannot crack 148.00, expect further downside, with the pair testing support at the confluence of the 50-EMA and the S1 pivot at 147.16-24, followed by the S2 pivot at 146.72. additional downside risks are expected at 146.47, followed by the S3 pivot at146.31.
Technical Levels: Supports and Resistances
EURJPY currently trading at 147.62 at the time of writing. Pair opened at 147.6 and is trading with a change of 0.01 % .
| Overview | Overview.1 | |
|---|---|---|
| 0 | Today last price | 147.62 |
| 1 | Today Daily Change | 0.02 |
| 2 | Today Daily Change % | 0.01 |
| 3 | Today daily open | 147.60 |
The pair remains strongly bullish on the daily timeframe. It trades above its 20 SMA @ 145.9, 50 SMA 144.27, 100 SMA @ 142.9 and 200 SMA @ 142.38.
| Trends | Trends.1 | |
|---|---|---|
| 0 | Daily SMA20 | 145.90 |
| 1 | Daily SMA50 | 144.27 |
| 2 | Daily SMA100 | 142.90 |
| 3 | Daily SMA200 | 142.38 |
The previous day high was 147.92 while the previous day low was 146.46. The daily 38.2% Fib levels comes at 147.36, expected to provide support. Similarly, the daily 61.8% fib level is at 147.01, expected to provide support.
Note the levels of interest below:
- Pivot support is noted at 146.73, 145.86, 145.27
- Pivot resistance is noted at 148.19, 148.78, 149.65
| Levels | Levels.1 |
|---|---|
| Previous Daily High | 147.92 |
| Previous Daily Low | 146.46 |
| Previous Weekly High | 147.86 |
| Previous Weekly Low | 146.40 |
| Previous Monthly High | 145.67 |
| Previous Monthly Low | 138.83 |
| Daily Fibonacci 38.2% | 147.36 |
| Daily Fibonacci 61.8% | 147.01 |
| Daily Pivot Point S1 | 146.73 |
| Daily Pivot Point S2 | 145.86 |
| Daily Pivot Point S3 | 145.27 |
| Daily Pivot Point R1 | 148.19 |
| Daily Pivot Point R2 | 148.78 |
| Daily Pivot Point R3 | 149.65 |
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